MCLEAN, Va., Aug. 26, 2013 /PRNewswire/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) announced today it was awarded a prime contract by the Federal Retirement Thrift Investment Board (FRTIB) to provide a broad range of business process, information security, and enterprise-wide information technology support services. The single-award Technology and Enterprise Support Services contract has a two-year base period with three options (two years, one year, and one year), and a total potential contract value of approximately $224 million, if all options are exercised. Work will be performed primarily in Washington, D.C., metropolitan area.
The FRTIB administers the Thrift Savings Plan, a tax-deferred defined contribution plan, which provides federal employees the opportunity to save for additional retirement security. Under the contract, SAIC will provide business process services, such as recordkeeping, and IT services, including data center, data network, voice network, end-user, service desk, and cross-functional services.
"We are excited to begin a relationship with the FRTIB and we understand the importance of these critical services to federal employees," said Dan Harris, SAIC Federal Civilian Group senior vice president. "Our services will directly assist the FRTIB in managing $369 billion in retirement savings accounts for more than 4.6 million participants. We look forward to working with FRTIB to support their mission, one that has a significant impact on federal employees and our customers."
SAIC is a FORTUNE 500® scientific, engineering and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the Nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 38,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of approximately $11.2 billion for its fiscal year ended January 31, 2013. For more information, visit www.SAIC.com. SAIC: From Science to Solutions®
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2013, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.